The upstream segment contracts in Europe registered a decrease of 5% with 138 contracts in October 2022, when compared with the previous month’s total of 146 contracts, according to GlobalData’s oil and gas contracts database.
A total of 138 contracts were registered in the upstream segment of Europe during the month, when compared with the last 12-month moving average of 154 contracts.
In terms of the number of contracts in Europe, the upstream segment contributed the most with 138 contracts in October 2022, followed by midstream and downstream segments with 22 and five contracts, respectively.
Contract award activity in Europe’s upstream segment during October 2022
In October 2022, Norway led the activity with 83 contracts and a 60% share of the upstream oil and gas contracts in Europe. It saw a flat growth over the previous month’s total of 83 contracts and an increase of 34% when compared with the last 12 month-average of 62 contracts in Norway.
In second place was the UK with 22 contracts and a 16% share, followed by Russia with 17 contracts and a 12% share.
Based on 12-month moving average of the contracts in the upstream segment of Europe, Norway took the top spot with 66 contracts, followed by the UK and Russia with 52 and 17 contracts, respectively.
Contracts by scope of work in Europe’s upstream segment during October 2022
During the month, the majority of upstream segment contracts awarded in the Europe were in the operations & maintenance with 112 contracts, followed by procurement and design & engineering with 20 and nine contracts, respectively.
All publicly announced contracts are included in this analysis, which is drawn from GlobalData’s oil and gas contracts database that provides insights into awarded and expired contracts globally.
More in-depth reports and analysis on all reported contracts are available for subscribers to GlobalData’s oil and gas database.